Las Vegas Sands Stock Surges Earnings, Comeback in Macau

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South China Morning Post

Casino operator Wynn Resorts beats fourth-quarter profit estimates on improved Las Vegas, Macau performance

Wynn Resorts, the controlling shareholder of Wynn Macau, beat fourth-quarter profit estimates on stronger gaming, luxury retail and hotel bookings at its Macau and Las Vegas properties. The company posted adjusted profit of US$1.91 per share, exceeding analysts' estimates of US$1.15, according to LSEG Data & Analytics. Operating revenue came in at…

Travel ・ 08 February 2024

World Casino News

Six Macau casino operators receive official gaming licenses from the Macau government

Today, six incumbent casino operators in Macau signed a productive 10-year gaming contracts with the Macau government and received gaming licenses to operate in the world's largest gambling city. Signing by rank: Six casino operators signed the contract according to their rank in the recent tender process: MGM Grand Paradise, Galaxy…

Industry ・ 17 December 2022

Vegas Slots Online

Casino Tycoon Tilman Fertitta Buys 6% of Wynn Resorts

Casino tycoon Tilman Fertitta has acquired 6% of Wynn Resorts. A Securities and Exchange Commission (SEC) filing made public over the weekend revealed that the Golden Nugget casino chain owner bought 6.9 million shares in Wynn Resorts on October 19. There were no details regarding the price Fertitta paid for the stake. Any time an individual…

Travel ・ 01 November 2022

The Street

Las Vegas Sands Stock Leaps As Macau Eases Covid-Era Gaming Rules

Las Vegas Sands (LVS) shares lead U.S. casino operators sharply higher Monday after officials in the city of Macau, the world's largest gaming hub, agreed to allow tour groups from mainland China for the first time in nearly three years. Macau, a Special Administrative Region of the People's Republic of China, said group visits - heavily restricted…

Covid ・ 26 September 2022

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World Casino News

Macau licensing move for Wynn Macau Limited

Asian casino operator Wynn Macau Limited has reportedly applied for a new ten-year license that would give it official permission to continue offering gambling entertainment at its pair of Macau properties until the end of 2033. According to a report from Inside Asian Gaming, the firm majority-owned by American casino operator Wynn Resorts…

Law ・ 14 September 2022

Casino City Times

This Week in Gambling: Las Vegas losing millions to Macau COVID lockdown

This week's gambling news comes from Las Vegas via Macau, China, which has been shut down for two weeks due to the latest coronavirus outbreak. Our Macau lockdown update finds this new surge of COVID-19 could cost Macau billions, and is already costing Las Vegas gaming companies like MGM Resorts, Wynn Resorts, and Las Vegas Sands millions. As the…

Covid ・ 28 July 2022

The Street

Las Vegas Casinos Should See Bump From Macau Reopening

Macau has been in dire straits for more than the past week. Earlier this month, the Chinese government announced that it would close all casinos in Macau starting July 11 as the region battles a covid-19 outbreak that infected nearly 1500 people over a three week period in the city of 680000. During previous outbreaks, the Chinese government had…

Land-based ・ 21 July 2022

Gambling News

Wynn's $2B UAE Casino Resort Offers 'Brand Extension'

A $2 billion integrated casino resort in the United Arab Emirates (UAE) is one of the key priorities for Wynn Resorts as the company seeks to extend its brand worldwide according to Wynn Resorts CEO Craig Billings. Billings, who is now over six months into the position of chief executive officer at the casino resort operator, also discussed company…

Travel ・ 05 July 2022

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Seeking Alpha

Macau rocked by local COVID cases which threaten casino traffic

Macau casino stocks fell in Hong Kong after the gambling region saw its first COVID-19 outbreak in eight months. The city reported 21 preliminary-positive cases in the local community as of Sunday evening. Schools and non-essential businesses were shut down until at least Tuesday to allow time for mass testing of all residents. Arrivals to Macau…

Covid ・ 20 June 2022

Seeking Alpha

Las Vegas Sands, Casino stocks surge as Shanghai looks set to end lockdowns (NASDAQ:WYNN)

Casino stocks led the S&P higher on Friday as news of a potential end to lockdowns in China sent gaming stocks skyward. Per the Associated Press, officials in Shanghai are considering a reopening "in a few days" as case numbers fall. The nation's most populous city is seen as a key bellwether for the country's Zero-COVID policy, therefore holding…

Covid ・ 13 May 2022

Seeking Alpha

Macau casino revenue plunges to 18-month low

Gross gaming revenue in Macau fell 68% year-over-year during April to 2.68B patacas ($331M), which marked the lowest tally for the gambling region in 18 months and fell short of the expectation of analysts. Revenue fell 27% in April from the level recorded in March and was 89% off from the pre-pandemic level of April of 2019. COVID restrictions in…

Finance ・ 02 May 2022

Seeking Alpha

Macau casino stocks could be impacted by new COVID deaths in Shanghai

Macau casino stocks are on watch again this week with investors looking to see how far the zero-tolerance policy in China can extend. The government in Shanghai has reportedly set a new target of zero cases at the community level by April 20, which means no new cases outside of quarantined zones. That may be a tough standard after 23643 new local…

Covid ・ 18 April 2022

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Seeking Alpha

Macau casino revenue slumps to 18-month low

Macau gross gaming revenue fell 56% in March to 3.67B patacas ($455M) to slightly trail the consensus estimate for a 55% decrease. Ongoing COVID restrictions and concerns held back traffic during the month. Gross gaming revenue was down 54% in March from the level seen in February with the lockdowns in Zhuhai and Shenzhen a major factor. The…

Finance ・ 01 April 2022

The Street

Wynn Has to Spend a Lot of Money to Stay Relevant in Las Vegas

Different locales call for different strategies in the casino business. When Macau was the buzzing international growth market as recently as 2019, most American casinos sold investors on their plans to expand in China. But a couple of years of pandemic lockdowns, and uncertainty about gambling licenses amid a crackdown on corruption in the…

Travel ・ 28 March 2022

Seeking Alpha

Macau casino revenue for February falls short of estimates

Macau gross gaming revenue gained 6.1% in February to 7.76B patacas ($0.96B) to trail the consensus estimate for a 7.0% increase. Ongoing COVID restrictions and a sharp crackdown on two junket operators impacted traffic negatively. Macau GGR is down 8% on a year-over-year basis. Jefferies is not confident that a positive turn for Macau is…

Finance ・ 01 March 2022

Seeking Alpha

Macau casino revenue slumps in January ahead of Winter Olympics

Macau gross gaming revenue fell 20.9% in January to 6.34B patacas ($785M). Although the GGR tally topped the consensus expectation for a fall of 31%, the rate of growth was far worse than the+1.8% mark recorded in December. The crackdown on Macau junket operators and tighter border restrictions ahead of the Winter Olympics also impacted Macau…

Finance ・ 01 February 2022

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The Street

Las Vegas Sands, Wynn Resorts Surge As Macau Clarifies Casino Rules

Macau, the world's largest gaming hub, will cap the number of casino operator licenses at six, while boosting local ownership requirements, when it auctions new permissions later this year. Las Vegas Sands (LVS) - Get Las Vegas Sands Corp. Report and Wynn Resorts (WYNN) - Get Wynn Resorts, Limited Report shares surged higher Friday after officials…

Travel ・ 14 January 2022

Markets Insider

Las Vegas Pandemic Recovery Continues To Outpace Macau's, Casino Analyst Says

Las Vegas, Nevada, and Macau, China, are two of the largest global casino gambling hubs. Both gaming destinations took big hits during the COVID-19 pandemic, but the latest gross gaming revenue numbers suggest the Vegas recovery continues to outshine struggling Macau. The Numbers: Many Americans think of Vegas as the top gambling destination, but…

Covid ・ 05 January 2022

Gambling News

Wynn Macau and Melco Resorts Severed Ties with Junkets

Two of the six casino licensees in Macau, Wynn Macau and Melco Resorts, confirmed to have completely cut their ties with junket operators, an article in GGRAsia revealed. The junket sector has been seriously hit after the arrest of Suncity chief executive officer Alvin Chao last month when analysts predicted the detention and the shutdown of…

Travel ・ 29 December 2021

Stock News

LVS: 3 Casino Stocks to Avoid as Macau Announces Increased Government Supervision

The casino industry has experienced a decent recovery this year with the reopening of brick-and-mortar casinos and the growing popularity of online gambling. However, shares of Macau casino operators declined by approximately one-third of their values, losing about $18 billion, on September 15, as Macau declared stronger supervision of casino…

Finance ・ 20 September 2021

The Street

Las Vegas Sands, Wynn Stock Slump As Macau Takes Aim At Casinos

Las Vegas Sands (LVS) - Get Las Vegas Sands Corp. (LVS) Report lead U.S. casino shares lower Wednesday after officials in Macau planned major changes to rules governing operations in Macau, the world's largest gaming hub. In what appears to be the latest crackdown on powerhouse sectors in the world's second largest economy officials in Macau, a…

Travel ・ 04 October 2021

Skift

Wynn Resorts Will Unleash Online Gaming Into a Public Company

Wynn Resorts is the latest casino company to signal the future gambling capital of the world isn't Macau or Las Vegas - it's your laptop or smartphone. The gaming company behind multibillion-dollar resorts in Las Vegas, Macau, and Boston this week announced plans to take its Wynn Interactive online gaming platform public via a special purpose…

Travel ・ 03 July 2021

Seeking Alpha

Searching for green shoots with Macau casino stocks (OTCMKTS:WYNMF)

The painfully slow recovery in Macau may have taken another step forward after Macau daily revenue for the week ending November 13 was reported to be 37% higher than the first six days of November. The relative jump in Macau gross gaming revenue was likely tied to mass testing for COVID ended in Macau on November 5, according to Jefferies analyst…

Finance ・ 14 November 2022

Seeking Alpha

Wynn Resorts, Las Vegas Sands lead rally in Macau casino stocks on reopening hopes

Macau gross gaming revenue fell 10.7% in October to $3.9B patacas ($482M) compared to a year ago, according to data from the Gaming Inspection and Coordination Bureau. The GGR tally was worse than the -8.5% consensus mark anticipated by analysts. October casino GGR was up 31.6% on a month-on-month comparison with some tourism channels to Macau from…

Travel ・ 01 November 2022